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HPQ
Hewlett-Packard Co.

5/23/2012, 7:44 PM ET
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HPQ Market Currents more »
  • 5:30 PM Some positives from H-P's FQ2 earnings call (webcast): The company passed Dell to become the world's #1 enterprise PC vendor; PC ASPs rose; the 3PAR storage unit again saw 100%+ Y/Y growth; Gen 8 server ramp strong; Americas revenue was flat Y/Y (-4% in FQ4). Some negatives: EMEA revenue fell 7% Y/Y (6% in FQ1), Asia-Pac fell 1% (+3% in FQ1); services margins expected to remain relatively weak; both demand and mix issues hurting printer margins. HPQ now +10.4% AH.
    Comment!
    [Tech]
  • 4:46 PM In tandem with its market-pleasing FQ1 report, H-P has announced its expected restructuring plan. The company plans to cut 27K jobs (8% of its workforce), a little above expectations, and says it will achieve $3B-$3.5B in annual cost savings by the end of FY14. The company expects to record a $1.7B pre-tax charge in FY12 related to the move (expect most of these costs to be excluded from non-GAAP EPS). HPQ +5.8% AH. (previous)
    Comment!
    [Tech]
  • 4:32 PM More on H-P's FQ2: PC division sales flat Y/Y, much better than Dell's numbers and a big improvement from FQ1's 15% drop. Enterprise hardware -6% (-10% in FQ1) as server declines offset modest networking/storage increases. Software +22% Y/Y (+30% in FQ1), though Autonomy saw a significant license revenue drop. Printing -10% (-7% in FQ1) as mobile/Internet photo sharing take a toll. Services -1% (+1% in FQ1). $350M in shares repurchased. HPQ +5.7% AH. Earnings call just started. (PR)
    Comment!
    [Tech, Earnings, On the Move]
  • 4:10 PM Hewlett-Packard (HPQ): FQ2 EPS of $0.98 beats by $0.07. Revenue of $30.69B (-3% Y/Y) beats by $770M. Expects FQ3 EPS of $0.94-$0.97, below $1.02 consensus. Expects FY12 EPS of $4.05-$4.10, above $4.03 consensus. Shares +7.1% AH. (PR)
    2 Comments
    [Tech, Earnings, On the Move]
  • 11:29 AM Apple (AAPL) single-handedly bought $23B worth of chips last year, estimates IHS' Dale Ford, and he sees its purchases growing to $27B in 2012 and $29B in 2013 (ed: those figures might be conservative, given revenue growth forecasts). That helps put into numbers the huge impact Apple's earnings reports have on chip stocks. Rival/top component supplier Samsung (SSNLF.PK) bought $15B in chips last year, and H-P (HPQ) bought slightly less.
    Comment!
    [Tech]
  • 10:28 AM For whom the Dell tolls: As the IT giant's FQ1 miss and commentary lead to a tech selloff, PC-related names get hit harder than most, no doubt thanks to the 10% drop seen in Dell's (DELL -15.8%) notebook sales. Rival H-P (HPQ -4.4%), due to report this afternoon, is among the biggest losers. Also selling off: INTC -3.1%. MSFT -3.2%. AMD -3.1%. LOGI -3.3%. (more on DELL)
    3 Comments
    [Tech, On the Move]
  • 7:48 AM Following Dell's (DELL) poor showing yesterday, the attention now switches to H-P (HPQ), which is due to release its FQ2 earnings after the bell. Analysts forecast that EPS fell to $0.91 from $1.24 and that revenue declined 5.4% to $29.9B. H-P is also expected to unveil a restructuring plan that will include laying off over 25K workers.
    Comment!
    [Earnings, Tech, Consumer]
  • 12:10 AM Notable earnings after Wednesday's close: HPQ, NTAP, P, PVH, SNPS
    Comment!
    [Earnings]
HPQ in Focus more »
HPQ Instablog posts more »
  • Barchart's Morning Call 5/23
    Wed, May 23 • Jim Van Meerten • Comment!
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    Fri, May 18 • Dividend Sheet • Comment!
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    Thu, May 17 • freefdawatchlist • Comment!
  • ECB Printing Money, & Greece On The Edge Of Official Default
    Mon, May 14 • freefdawatchlist • Comment!
  • Back Testing The 200 Day Moving Average On All Stocks Within The Dow Jones Industrial Average
    Sun, May 13 • Paul Allen • Comment!
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Company Description

HP is a leading global provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses ("SMBs") and large enterprises, including customers in the government, health and education sectors. Our offerings span:

• multi-vendor... More